Financial Management Practices of Village Dressmaking Business in Barangay Inspector, Santa Rosa, Nueva Ecija

The descriptive study assessed the problems regarding financial management practices of village dressmaking business in Barangay Inspector, Santa Rosa, Nueva Ecija. The main sources of data came primarily from the responses of fifty village dressmaking business owners in Barangay Inspector through purposive sampling. The findings of the study are village dressmaking business owners who exhibit a lack of compliance and negligence towards essential financial management practices are likely to face challenges in expanding and growing their businesses. Financial management is one of the several functional areas of management, but it is the center of the success of any business. Inefficient financial management, combined with the challenges of the business environment often led businesses to serious problems. The researchers proposed an action plan which aims to help the dressmaker’s business to be more sustainable and competitive. The dressmakers are highly encouraged to attend and participate in seminars and workshops and other activities that will help them to be more knowledgeable in financial management practices. This will address the misconception of dressmakers in registering and managing their businesses.